Union Finance Minister Nirmala Sitharaman on 20th February informed that the Central government of India is taking a lot of steps to restrain the inflation and will continue to put efforts on it.
For example, in the matter of pulses, the government is promoting farmers to grow pulses to enhance domestic production and has also lessen the import duty on some of the pulses to upgrade domestic availability.
Responding the question whether Budget 2023-24 would bring down inflation, Finance Minister said: “The Indian government is taking steps to restrain the inflation and will continue to focus on it”. She was in the city for a post- budget 2023 conservation with numerous stakeholders.
“We have taken many measures, for instance, promoting farmers to sow pulses so that the production of pulses in the country increases in the next planting or seeding season”, Finance Minister told reporters here. She further added the government has also lessen the import duty on pulses like Masoor and Moong. This has made imports comfortable and pulses are attainable quickly and inexpensive in the country.
She continued saying, “the import of eatable oil has been made almost exempted from the tax for the last three successive years, due to which palm crude/ palm refined oil has also been unbarred so that the supply of eatable oil is trouble- free and adequate”.
The Wholesale price- based inflation reduced to a two- year low of 4.73% in the month of January on reducing prices of producing items, Fuel and power, In spite of the fact that food articles turned costly. Retail inflation again infringe the Reserve Bank’s upper forbearance limit and affected a 3 month high of 6.52 percent in January, this is mainly took place due to higher prices in the food basket, including cereals and high- quality protein items.
